Following is the full text of Chinese President Hu Jintao's speech at the opening ceremony of the Fifth APEC Human Resources Development Ministerial Meeting held in Beijing Thursday morning.

Deepen Exchanges and Cooperation for Inclusive Growth

Address by President Hu Jintao

Ladies and Gentlemen,

Today, friends from the APEC member economies are gathering in Beijing for the Fifth APEC Human Resources Development Ministerial Meeting. The theme of the meeting is "Developing Human Resources, Vigorously Promoting Employment and Realizing Inclusive Growth". First of all, I wish to extend, on behalf of the Chinese government and people, warm congratulations on the opening of the meeting and sincere welcome to all delegates.

The Asia-Pacific region is among the world's most dynamic regions with the greatest development potential. It has an important place and role in the world economy, with the 21 APEC member economies making up nearly 60% of total global economic output. After 21 years of development, APEC has become an economic cooperation organization in the Asia-Pacific region that has the most full-fledged institutions and attracts the highest level of participation.

In the wake of the international financial crisis and based on our experience in dealing with the crisis, we have become more acutely aware of one thing. In an era of deepening economic globalization, if we want to ensure sustained global economic growth and effectively tackle the risks and challenges faced by the world economy, all economies and regions must strengthen exchanges and cooperation and work together to address the underlying, structural issues in economic development. The 17th APEC Economic Leaders' Meeting in 2009 reached consensus on inclusive growth, and highlighted the importance of seizing the opportunities brought by economic globalization to better meet the challenges of economic globalization and create job opportunities for the benefit of our people. To realize inclusive growth, to resolve the social issues emerging from economic development and to lay a solid social foundation for trade promotion, investment facilitation and long-term economic development are all major topics that we, the APEC member economies, need to work on together.

Ladies and Gentlemen,

The ultimate purpose of inclusive growth is to spread the benefits of economic globalization and economic development among all economies, regions and people and to realize balanced economic and social progress through sustainable development. Our goal is greater productivity and prosperity and a better environment. To this end, we must develop the economy, transform the economic development pattern, raise the efficiency of economic development, and create more social wealth so that our people can lead a better life. We should pursue social equity and justice. To this end, we must ensure everyone equal access to development opportunities, steadily put in place a system for guaranteeing social equity with a focus on ensuring fairness in rights, opportunities, rules and distribution, and eradicate obstacles that keep our people from participating in economic development or sharing the fruits of economic development. We should put people first, ensure and improve people's livelihood, institute a social safety net that covers all, and address issues vital to people's livelihood, including education, labor and employment, health care, old-age support and housing. We should work hard to ensure that development is for the people and by the people and its fruits are shared among the people. Here, I want to make the following four proposals within the context of the theme of the meeting:

First, give priority to human resources development. Human resources development holds the key to people's full participation in economic development and to improvement of conditions for their survival and development. It also provides the basis for sustainable economic development and inclusive growth. Development of human resources can be sustainable. Among all the advantages we are endowed with, the advantage in human resources is the most reliable. It can bring out the greatest potential in us and its development calls for our utmost efforts. We should be committed to the concept that human resources are the number one resources in economic and social development, and should speed up efforts to form strategies that give priority to human resources development. We should focus on readjusting the structures of human resources and investing in human resources development. We should make institutional innovations in human resources development by building a development mechanism that is jointly invested by the government, society, employers and individuals. And we should actively plan for and make readjustments to the professional mix, level and distribution of human resources, so as to boost the innovation power of human resources of all kinds.

Second, implement the strategy of full employment. Employment is vital to people's livelihood. Full employment in society will enable more people to share the fruits of economic and social development. We should make full employment our priority goal in economic and social development and implement the strategy of expanding employment to maximize employment and development opportunities for workers and ensure full employment for our people. The government should take greater responsibility in employment promotion. We should implement a more proactive employment policy and relevant fiscal, financial and industrial policies and build a public service system for employment that covers both rural and urban areas. We need to improve the long-term employment aid system that is accessible to all people with difficulties, and enhance the interactive mechanism between employment and social security. We also need to promote decent work as well as harmonious labor relations.